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Moody’s CPPI Index Down 2.6%

April 20, 2010

In our previous post we indicated that risk was back, alluding to our belief that many investors are likely getting ahead of themselves in believing that we’ve seen the worst of it. In a market where the government is willing to artificially provide support to markets at nearly any cost (debt), it ultimately leads to […]

Welcome Back Risk

April 19, 2010

For the past few months, it seems the bears have taken a back seat to a lot of bullishness, particularly in commercial real estate. A few months of rising prices, equity flowing everywhere, and a whole lot more buyers than sellers has made many investors feel that perhaps we’ve seen the worst of it. Perhaps […]

GS Whitehall Funds Down to Last $30M … From $1.8B!

April 16, 2010

And you thought that Morgan Stanley Real Estate Funds were the only players in town who had an expertise in losing massive amounts of money. The Financial Times is reporting that Whitehall Street International, GS’s international REF has essentially been wiped out. The fund is down to its last $30m, from about $1.8bn, a loss […]

MSREF VI Shows Us How To Lose $5.4B

April 13, 2010

Morgan Stanley Real Estate Fund VI has disclosed to investors that they are facing losses of nearly two-thirds of their investment. That translates to roughly $5.4B of losses on the massive $8.8B fund. The article in the WSJ runs through most of the juicy tidbits. The losses are so staggering that the entire premise of […]

Sobrato Nabs McAfee for 240K SF and What It Means For The Market

April 2, 2010

Sobrato has managed to bag McAfee for ~240K square feet – and potentially more – at its Santa Clara campus. The Registry has some info on the deal as well. The deal is a great one for Sobrato, which has Yahoo! on lease until the end of July. The buildings are located at 2811 and […]

Westbrook Partners Gets a Deal on Four Seasons

March 22, 2010

Westbrook Partners has moved in to the aid of Millennium Partners, including the San Francisco Four Seasons which was in foreclosure. The deal is seemingly a good one for Westbrook but what this deal signals is that the market was shifting. Banks, which for some time were unfit and/or unsure of what to do with […]

Deloitte’s Theory on CRE: Could Be, May Be, and Expected To

March 22, 2010

Deloitte is out with a report titled “Perspectives on Real Estate: Uncovering Opportunity in a Distressed Market”. It’s a good read. It pretty much tells you everything we already knew was broken, that we are facing problems with: Declining Real Estate Values Debt Maturity and Credit Access Stalled Construction The rest of the report is […]

AB2640 Seeks to Repeal 1031 Exchanges in California

March 15, 2010

First of all, for those of you who dropped me a note wondering if I was still alive, rest assured I am. Thanks for the concern. Now to the pressing issue, a bill within the California state assembly which seeks to repeal the tax benefits of 1031 exchanges in California. We’ve been discussing for a […]

The Cleveland Fed Justifying Its Existence

March 3, 2010

….this was actually put out by the Cleveland Fed on March 1, 2010. I wouldn’t believe it unless I saw it. [via ZeroHedge]

$46B in CMBS Balances Now Delinquent

March 3, 2010

RealPoint’s February report is out and things continue to get worse on the CMBS front. Not only is the oustanding CMBS loan amount huge, but the rate of growth is staggering. The amount of distressed 90+ day loans rose 28% in one month. In January 2010, the delinquent unpaid balance for CMBS increased by another […]

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